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FINANCIAL NEWS
Saudi Aramco to ink China’s Yunnan refinery agreement
24 Aug 2017
(MENAFN) Saudi Aramco is projected to ink a final deal with PetroChina, China’s second largest state-run refiner, amid six months to invest in its Yunnan refinery.
Meanwhile, Aramco aims to push ahead with its oil investments in China in order to become the nation’s biggest source of crude supply and a main player.
Furthermore, Aramco will own a big share in the 260.000 barrel per day Anning plant in Yunnan province, while it’s looking to issue USD1bn-USD1.5bn in the refinery.
Additionally, PetroChina plans to start operating the new refinery in Oct after Several delays, enhancing the nation’s surging crude imports.
MENAFN2408201700450000ID1095765291
MENAFN2408201700450000ID1095765291
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